Deals
Advent Buys Part in Argentina’s Visa Operator for $725 Million
- Banks sell 51% in Prisma after regulator approved divestment
- Sale was hurt by Argentina’s economic turmoil in 2018
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Advent International has agreed to buy a majority stake in the Argentine operations of Visa for about $725 million from a group of local banks.
The Boston-based private equity firm agreed to acquire 51 percent of Prisma from its shareholders, a group of 14 banks and Visa Inc., in a deal that valued the company at $1.4 billion, according to Prisma. The largest stake was sold by Banco Santander Rio SA for $134 million, according to regulatory filings from some of the banks involved in the sale.